Elderly under paying tenant

[Brett Staples]

so im looking into buying a 2 family. the issue is the tenant has been on lease for 10 years,  she is disabled, 60 years old and pays 740 dollars a month for a spot that could rent as high as 1100. Morally I couldn't kick her out but maybe I could rent out the other room to another disabled elderly woman? Great property, low crime area. would love to hear thoughts or advice if I should even consider this property. Second floor pays 1050

[Jennifer T.]

Do you know if a roommate is something she would even consider?  She might find that more horrifying than trying to find another, cheaper place.  Plus, that's a lot of "ifs" before you've even closed on a property.

If $740/month for her unit is below the monthly cash flow you will tolerate, and you're not willing to give her notice to leave, than you should pass on this deal.

We all have our moral thresholds and that's fine.  But I would have no qualms about buying the property and having a conversation with her.  Basically, that I am giving her a 60-day notice that the rent is going up $X much/month.  If that is not affordable for her, then she can give me her notice to find other accommodations.  In my area, only a 30-day notice is required, so I feel 60 days is especially generous and should give her plenty of time to find something else.

I'm sympathetic to anyone who is disabled and/or elderly, especially if they don't own their own home.  It really makes life tough.  But I'm not running a charity and it isn't my fault that life dealt her a raw deal or she planned poorly for her future or some combination of both.  I'm planning for my own future and that doesn't include subsidizing a stranger's life to the tune of $300+/month in lost rental income.